Principle theme

28 June 2010

G-8 contributes to global security

Russia has called for the creation of a new global financial mechanism that Moscow said could help avoid a repeat of the 2008 world economic crisis in the future. The proposal was made during a G-8 summit which wrapped up in Huntsville, Canada, on Saturday.

In this regard, the international community using more reserve currencies in the years ahead is a best-case scenario, believes presidential aide Arkady Dvorkovich, who notably remained upbeat about the results of the Huntsville gathering:"Significantly, G-8 leaders arrived at a political accommodation on a spate of the most outstanding global issues, Dvorkovich says, citing fiscal consolidation and economic overhaul of those affected by the global credit crunch. Finding more ways to reduce the budget deficit was front and center, Dvorkovich goes on to say, quoting Russian President Dmitry Medvedev as urging G-8 leaders to do more to resolve the issue."

Instead of focusing on the creation of the so-called international finance ministry, world leaders agreed to exchange views on the fiscal and budget policies they presently pursue in their countries, Dvorkovich explained.Leaders of Britain, Canada, France, Germany, Japan, Italy, Russia and the United States have concluded their summit with a joint declaration that , in particular, stipulates taking more steps to add to global security.

These include the protection of the population during potential conflicts, the fight against terrorism and sea piracy plus the contribution to economic recovery and democratic development of the G-8 countries.  The topics are expected to highlight the agenda of a G-20 summit, which is due to kick off in the Canadian city of Toronto on Sunday evening. Meanwhile, US President Barack Obama and British Prime Minister David Cameron jokingly promised to keep an eagle eye on a Twitter blog by the Internet-savvy Russian President. June 27 saw Dmitry Medvedev posting a short message on Twitter, where he specifically said that an array of economic issues will top the G-20 summit’s agenda.

Back to the topic of the day